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Blockchain conference participants invited to invest in Grand Bahama

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#Freeport, GrandBahama, June 22, 2018 – Bahamas – During opening day of the first Bahamas Blockchain and Cryptocurrency Conference, presenters and visiting guests were invited by the Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest to invest in the island.  The conference was officially opened Wednesday, June 21, at the Grand Lucayan by Prime Minister, Dr. the Hon. Hubert A. Minnis.  The event ends on Friday.

Minister Turnquest said, “The investment opportunities in Grand Bahama straddle many sectors: technology, of course, in keeping with our vision for Grand Bahama to be the tech hub for The Bahamas, to be the Silicon Valley of the Caribbean; but also the tourism industry, the maritime field, and the industrial sector.  This is reflected in the anchor businesses currently on the island, and those projects in development and under consideration.”

Listing some of the major companies currently doing business on the island, the Minister cited Freeport Container Port, Grand Bahama Shipyard, and Buckeye Bahamas Ltd.

“All of these existing investments speak to the diverse business community we already have here in Grand Bahama; and our desire is to see the island continue to grow as a hub of innovation and industry.  There are clear and present signs that investors have bought into this vision for Grand Bahama.”

With the recent commitment from Grand Palm Beach Acquisitions investment group that committed $2 billion over the next ten years to repair, revitalize and develop the former Ginn Sur Mer project in West End, this development is expected to include multiple hotels, including a casino hotel, branded hotel residences, two marinas, a golf course, an organic farm, and a smart city.

“This means digital technology will be a part of the core design and operation of this resort and residential community.

“We certainly want to encourage the use and integration of technology in ways that create efficiencies, improve environmental sustainability, boost economic development and enhance quality of life factors for people living and working in our islands.”

The Deputy Prime Minister further stated, “In many respects, Grand Bahama is seeing a surge of interest from investors, some of whom are returning to complete projects that were impacted by the global recession.

“The $5 million Seaward Fishing Village Project, which had its genesis in 2003, will be resuming development in West Grand Bahama.  The 35-acre site in Deadman’s Reef will generate quite a boost in the construction of vacation homes, creating a unique community for year-round visitors looking for an opportunity to dock their boats and enjoy the best sports fishing on offer in The Bahamas.  It will provide significant infrastructural development including the installation of underground electrical and water utilities, roads and a 1,400 ft. marina.

“Also in the pipeline is a $47 million development by Grand Bahama Project Leisure Ltd., which has been approved in principle by the government. Their plan is to build a world-class motor sport, tourism and commercial development, also in West End, to be constructed on a few dozen acres of beachfront property.  The project includes construction of 300 villas and a karting track with educational facilities.”

Describing the opportunities on the island as “ripe,” Deputy Prime Minister Turnquest said the Bahamas Blockchain and Crytocurrency Conference is timely because:

  1. “First, as a government we set out a vision for Grand Bahama to be the tech hub for The Bahamas and the region; to be the Silicon Valley of The Caribbean, so we are committed to pursuing those opportunities that will bring this vision to life in Grand Bahama.
  2. “Second, blockchain and cryptocurrency, in particular are dynamic and game changing technologies, and as a country we want to be at the forefront of their use and integration into our systems, particularly where they can improve the ease of doing business and lead to innovations that boost development.
  3. “Third, the technology sector on the whole is one which the government is keen to develop and promote niche markets in The Bahamas. Earlier this year, we enacted the Commercial Enterprises Act, which creates a special work-permitting structure that allows companies to set up their operations quickly, when they are making substantive investments in targeted areas in the tech sector and other areas, including: Nanotechnology, Data Storage, Software Design, Manufacturing Enterprises, Wealth Management, Computer Technology, Captive Insurance, Maritime and Aviation Registration, among others.”

With the introduction of The Commercial Enterprises Act, he said, new foreign direct investment and job creation is already being seen with the multi-million dollar investment by GIBC Digital.  The company has already hired 25 people and will have their official opening next Thursday. With an estimated economic impact of $10 million during the first year, the company is set to hire an additional 25 people, and has made Freeport their training headquarters.  They expect to expand their Bahamian operation to over 150 employees and build a state-of-the-art, sustainable Data and Al centre within three years.  It is hoped their economic impact will be in the area of $50 million by 2020.

The Deputy Prime Minister stated, “The fourth and final reason this conference is so timely: The government has a vision of a Digital Bahamas, and we are heavily invested in the government’s leadership role in this area.

“What do I mean by that? As a government we cannot rightly champion ideas that we are not adopting ourselves.  The more we allow the population to interact with us digitally, the more we facilitate the necessary behavior shifts to bring our vision of a Digital Bahamas to life.”

 

By: Robyn Adderley (BIS)

 

 

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Rosewood Exuma: A precedent-setting case for environmental law and future development in The Bahamas  

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By Eric Carey, ONE Consultants, former Executive Director of the Bahamas National Trust. 

We are facing an extraordinarily important moment in judicial history in The Bahamas as we await a decision on the trial of allegations in the Yntegra group’s Rosewood Exuma project.

As former Minister of the Environment, Romauld Ferreira, put it in the Supreme Court last week: “A lot is at stake…a  great deal of what will be considered in this case sets the stage for what’s to come for future development in the country.”

In the trial of the judicial review of government approvals given to Yntegra for their Rosewood Exuma resort this week, we’ve heard technical arguments about failure to make key environmental documents like Yntegra’s Environmental Impact Assessment and Environmental Management Plan available to the public, failure of key documents to assess some of the most controversial aspects of the project, an unlawful consultation process, and a failure to conduct further consultation following major changes to the development.

Lawyers for Turtlegrass described how there was a “salami slicing” of the project into chunks as a way to circumvent the approvals process and disguise its full impact from public scrutiny. Only certain portions came before the public and key stakeholders like Turtlegrass and Over Yonder Cay for scrutiny, while some of the most controversial aspects did not. This is particularly problematic given what is at stake – the dredging of a beautiful Exuma bay, the North Bay, to transform it into an industrial shipping channel, complete with an enormous seawall, dock, back-of-house facilities and other industrial infrastructure.

It is unfortunate that it has had to come to this – an expensive judicial review process that calls out the government for falling down on its duties to protect the environment and follow the law – but it is important and the broader implications should not be overlooked. When Justice Leif Farquharson rules on this case, he’ll set a precedent that could echo in The Bahamas for years to come, one that answers the question: are the 2019 environmental laws that Ferreira took to parliament after many years of advocacy by environmentalists toothless tigers that are just for decoration – or are they capable of protecting the environment that we all depend on and the rights of those affected by projects to have a genuine say in them?

What is curious is that at the same time as these points are being raised in court as part of the judicial review, we are seeing personal attacks about Bob Coughlin – the person spearheading this legal action and test of environmental laws – by online trolls. Coughlin, an Exuma resident for almost a decade, has long been established as an environmental advocate and a passionate philanthropist – one who has donated almost $4 million to causes in The Bahamas since 2018, including millions to the organisation I once led, the Bahamas National Trust.

For reasons one can only speculate about, these trolls have been trying to make out all sorts of absurd things: that his legal action in support of environmental protection is a petty dispute born out of fears of competition. That Coughlin no longer even wants to pursue his eco-tourism project, when the reality is that he was forced to put it on hold because of the destructive environmental plans that are in dispute. That he is the only one who has an issue with this Rosewood Exuma resort, when in fact, neighbouring resort, Over Yonder Cay – one of the top rated resorts in the Caribbean – as well as the Save Exuma Alliance – consisting of most of the local islands and businesses in the Exuma area, and thousands of petition signers have expressed their concern with the project – over 9,000 to date. Most ironically, they claim, wrongly, that Coughlin received crown land for personal use, when in fact it is Yntegra who received crown land while having no development track record, when Coughlin instead bought his lease on Sampson Cay from a private owner.

The timing of these claims, in the week of the trial, suggest a patronising and cynical attempt to distract from the gravity of the case being heard, what it represents, and how important this decision is. With their simplistic, jingoistic and factually-dubious references to crown land, white foreigners, and the like – it’s not hard to imagine that those involved are engaged in a ploy to push the buttons of Bahamians who they apparently believe can be too easily distracted into ignoring the real issue here: that the government, has – in the words of those in the Supreme Court this week – “run roughshod” over environmental laws with its approvals for Yntegra’s Rosewood Exuma project and that this is truly a landmark case and the decision will have a long-lasting impact on future development. This is at a time when foreign direct investment (FDI) inflows into the Bahamian economy are forecast to increase by as much as two thirds over the next two years, according to the Inter-American Development Bank (IDB).

So I call on my fellow Bahamians to stay focused. This is not a story about one man – it is a story about the future we want for our country and whether we are willing to sacrifice our ability to demand environmental accountability in all developments moving forward. There is too much at stake to be thrown off the track by trolls.

As Ferreira says of the judicial review that now awaits Justice Leif Farquharson’s judgement: “This is the first set of litigation, serious litigation, that takes a deep dive into the Environmental Planning and Protection Act and the environmental impact assessment regulations…There’s a lot at stake here.”

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Monument Supports Hands for Hunger With Paradise Plates Debut  

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NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ leading wine and spirits distributor, proudly supported Paradise Plates, Hands for Hunger annual fundraiser with a flavorful offering of its newest product, Monument Beverage Co.

Monument, which launched this July and is available across six major islands, made its Paradise Plates debut. Guests enjoyed three bold flavors: Peach Passion, Ginger-Lime and Melon Fizz as they socialized throughout the evening.

Monument brand ambassadors engaged guests with knowledge on the ready-to-drink beverage’s unique taste and look. Many attendees were delighted to learn that Monument is 100% Bahamian-made and owned and enjoyed seeing the various national landmarks on the packaging.

The booth was adorned with vibrant brand colors, striped arches, tropical florals and a photo worthy backdrop featuring Monument cans filled with florals cascading down the wall.

At the end of the event, the entire Monument inventory had finished, making Monument’s Paradise Plates debut a huge success.

For more details on Caribbean Wines & Spirits, new products and specials, visit www.cwsbahamas.com today.

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Schweppes ‘the Art of Mixology’ Dazzles at Paradise Plates with Nemiroff Vodka

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NASSAU, Bahamas — Schweppes, in collaboration with Nemiroff Vodka dazzled guests with handcrafted cocktails during Paradise Plates, Hands for Hunger’s annual fundraiser held at Atlantis’ Imperial Ballroom.

The evenings’ theme, 70’s: Paradise Disco, inspired bold and delicious sips from Schweppes and Nemiroff.  The beautiful disco themed Schweppes booth, adorned with LED signs, lush greenery and hanging black and gold metallic orbs shined throughout the room.

Schweppes’ brand representatives and mixologists dressed in chic 70’s speakeasy attire engaged attendees throughout the night. Guests enjoyed receiving knowledge of each product and experiencing the vibrant energy of brand representatives.

Nemiroff Vodka, which is locally distributed by Caribbean Wines and Spirits (CWS), The Bahamas’ premier wines and spirits distributor; offered a unique variety of vodkas which made the perfect blend with Schweppes. Guests enjoyed, Nemiroff’s Honey Pepper, De Luxe, Burning Pear, Wild Cranberry, and Bold Orange vodkas throughout the night.

Fan favorite cocktails of the night were: the Wild Cranberry Tonic and the Bold Orange Fizz.

Following a positive response at Paradise Plates, CWS is offering Nemiroff and Schweppes specials at local liquor stores for the entire month. With the purchase of any 1-liter Nemiroff vodka, enjoy a complimentary three-pack of Schweppes mixers, to recreate the magic of Schweppes and Nemiroff.

Cara Douglas-Adderley, Senior Marketing Director for Caribbean Bottling (CBC), local producers and distributors of Coca-Cola and Dasani products and CWS shared the inspiration behind the Schweppes and Nemiroff promotion.

“We are thrilled to have paired Schweppes and Nemiroff for Paradise Plates this year, creating a premium cocktail experience for guests. After receiving such positive feedback, we wanted to extend that experience to consumers at home. Throughout October, consumers can visit their favorite watering hole, buy any 1-liter Nemiroff bottle and receive a free three-pack of Schweppes.”

Caribbean Bottling Company is proud to offer Schweppes, Coca-Cola’s premier mixer in collaboration with Caribbean Wines & Spirits and Nemiroff Vodka at Paradise Plates in support of Hands for Hunger’s mission.

For more information on CBC’s philanthropic work, new products and specials, visits www.cbcbahamas.com today.

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